The Wall Street Journal reported that Kodak won bankruptcy court approval for its request that will help the company stay on track to exit Chapter 11 next month.
The Journal noted that Judge Allan L. Gropper extended the time in which creditors can be solicited to vote on the Kodak restructuring plan, citing court documents. Without it, the Journal said, Kodak’s July 31 deadline would have been weeks before the company was scheduled to seek approval of the plan, which could have resulted in plan derailment from an unhappy creditor.
To read the entire WSJ story, click here.
Previously on abfjournal: Bloomberg: Kodak Seeks $695MM in Loans, July 15, 2013